Buffett's Berkshire Hathaway buying Heinz

Heinz(HNZ) shareholders will receive $72.50 a share in cash, a 20% premium over Wednesday's closing price, which was already near Heinz's record high. It will keep Heinz's headquarters in Pittsburgh.

Shares of Heinz shot even higher, to $72.90 a share, in premarket trading on the news. Shares of Berkshire(BRKA) were not trading pre-market.

Berkshire has investments in a number of high-profile companies, including Deere & Co.(DE), IBM(IBM) and Procter & Gamble(PG). But it also owns a number of companies outright, including fast-food chain Dairy Queen, insurer GEICO and the railroad company Burlington Northern Santa Fe.